Orpheus Capital Sdn Bhd (Orpheus), a Shariah based fully digital financial technology company, and Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia) has collaborated to offer new financing product- GajiNow Financing.
It is a short-term Shariah-compliant financing created to ease the burden of those who have been impacted by Covid-19.
The product aims to provide businesses, especially small and medium enterprises (SMEs), with affordable, fast, secure, and safe financing, on top of its goal to prevent individuals from turning to the unlicensed money lenders and loan sharks.
Orpheus assures that GajiNow Financing is affordable to all individuals with a minimum salary of RM1,200.
“GajiNow Financing is one of the many endeavors we are undertaking to serve as a catalyst in promoting the participation and success of SMEs and individuals in our current economic climate.
With Huawei’s technological expertise and support, we are able to provide a fully digital financing platform which shortens the application processes and approval to under 5 minutes, making financing more
convenient than ever before,” co-founder of Orpheus, Hamudi Khalid said in a statement.
“We hope to be able to scale up our financing to salaried individuals as well as the SMEs, which in turn will pave the way for the creation of more jobs as well as improvements in the cash flows of the unbankable,
underserved and unserved smaller players across the value chain,” he added.
Huawei Malaysia CEO Michael Yuen meanwhile added that the strong partnership between Orpheus and Huawei provides an exciting opportunity for the firm to further support the communities in Malaysia.
“Huawei is delighted to provide the critical and necessary technology support that Orpheus requires, while at the same time, assisting them in utilising the latest technologies to enhance their product suites including the introduction of best practices in several key areas such as automatic data gathering and capturing, fraud mitigation, Artificial Intelligence and Machine Learning, to name a few,” Yuen said in the same statement.
“We believe that this alternative financing offered by Orpheus will strengthen its capacity in assisting individuals and local SMEs, particularly those out of town and in rural areas,” he added.
GajiNow Financing is developed following the MOU signed between Orpheus and Huawei Malaysia in June this year. To apply, visit www.orpheuscapital.com.my –TMR